Recap of Jim Cramer’s comments on Stop Trading! Friday June 6.
Stop Trading: Halliburton (NYSE:HAL), Nabors (NYSE:NBR), Clorox (NYSE:CLX), Kimberly-Clark (NYSE:KMB), Procter & Gamble (NYSE:PG), Pepsico (NYSE:PEP), General Mills (NYSE:GIS), Intrepid Potash (NYSE:IPI): Cramer remarked traditional “safety stocks” are not safe as high oil prices are creating a domino effect and are bringing up raw costs for traditional havens Kimberly-Clark, Clorox and Procter&Gamble. Even Pepsi’s diversification into snack foods has been punished by skyrocketing corn prices fueled by ethanol demand. General Mills stood alone in not declining, but it is the exception that proves the rule. Cramer says it is not too late to get into oil stocks such as HAL and NBR, adding “You don’t sell until they start raising numbers” While IPI is already at its 52-week high, Cramer predicts it is about to rip.
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